Road Show

Image courtesy of Sanjeewa Dayarathne (www.Feedback.lk)

Nearly two-dozen institutional investors have been lined up in Hong Kong and Singapore for presentations on the SLT IPO.rn

rnSri Lanka Telecom is counting on foreign investors to grab a significant part of its IPO expected to generate up to Rs. 4 bn, if a full 15% stake is sold.rn

rnOnce listed SLT will become the largest company in terms of its market capitalization.rn

rnThe presentations in Honk Kong and Singapore are part of the Sri Lanka telecom road-show to the East to generate foreign interest in its IPO.rn

rnSLT Chairman Thilanga Sumathipala says that there are already some 21 parties who have expressed interest.rn

rnSLT says that the listing will also open up avenues to mobilize funds for its own use by issuing new shares. Proceeds from the IPO will go to the government.rn

rnIssue managers DFCC bank say the shares are being offered at a discount to the current P/E levels in the Colombo stock market.rn

rnldblquote SLT posted a profit after Tax of Rs. 1.4 billion for the first half. Of you